In a statement, Mr Conze said: “Entertainment has always excited me. The digital transformation of this industry combined with the commerce business makes ProSiebenSat1 unique.

“Together with my fellow executive board members and all of the ProSiebenSat 1 team, I look forward to bringing all my energy to shape the future of ProSiebenSat1 behind its three-pillar-strategy entertainment – content production – commerce.”

Mr Conze is understood have secured a multimillion-pound settlement with Dyson in December following a legal dispute over allegations that he disclosed secret company information and used the firm’s resources to his benefit.

However, the ex-chief denied the allegations and said Dyson was trying to distract attention away from claims that he was looking to issue against the firm.

Mr Conze spent 17 years at consumer goods group Procter & Gamble before joining Dyson in 2011, where he was chief executive and chairman of the executive board for six years.

He will take ProSiebenSat.1 to new heights
Werner Brandt, supervisory board chairman